FSCS hopes to cut insurance levy by working with industry to root out ‘bad actors’

money reduce pounds

After making three board appointments including former secretary of state, Nicky Morgan. FSCS’s board chairman, Marshall Bailey OBE discusses the firm’s rising levy, how these appointments will bolster its 2020 strategy and the new challenges it faces due to the pandemic

The Financial Services Compensation Scheme (FSCS) is hoping to decrease its levy through its 2020 strategy.

It hopes to work with the insurance industry to point out the “bad actors” and “bad practices” to ensure that these activities are minimised. 

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